Localiza to raise cash in local bond market

Localiza to raise cash in local bond market

Debenture Debt Capital Markets M&A Brazil Rule 476

Brazilian car rental company Localiza plans to issue up to BRL2.5 billion ($479 million) in debentures in the local market "to recompose the company's cash position," it said in a securities filing. Localiza Rent a Car plans to complete the two-part deal on February 25. It expects to price a series of five-year debentures at the DI interbank lending rate plus 1.7% and a series of seven-year debentures at the DI plus 2%, it said in the filing. The Belo Horizonte-based company did not say if it ha

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